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ARCHIVED - Petrol prices in Spain the highest since July 2014
Fuel is still significantly cheaper in Spain than in the rest of the EU despite the price hikes
The average price of a litre of petrol has climbed by 0.5% this week to 1.421 euros, the highest cost since the last week of July 2014, when it sat at 1.424 euros, according to the latest data released by the Oil Bulletin of the European Union. After three consecutive weeks of falling prices across the country, filling the tank this week is 21.5% more expensive than a year ago.
Diesel drivers will also be feeling the pinch, as the average price of a litre has also increased by 0.55% this week to 1.265 litres; this is 20% higher than the same month last year.
Filling an average 55-litre petrol tank will now cost car-owners an average of 78.16 euros, considerably more than the 64.36 euros it would have cost at the beginning of September 2020. Refuelling a diesel car will set you back around 69.60 euros, an increase of 11.60 euros.
The price hikes will come as no surprise to regular drivers, as the cost of fuel has been steadily increasing all year, and before last Easter, both petrol and diesel had already reached their pre-Covid levels. In the first eight months of 2021 alone, the average price of a litre of petrol has jumped more than 18 per cent while diesel has risen by more than 16.5 per cent.
The good news is that petrol and diesel in Spain are still cheaper than in Europe, with the average EU price coming in at 1.549 euros and 1.373 euros per litre respectively. The reason for the lower pricing is that Spain, despite recent VAT increases, higher taxes and levies on biodiesel, continues to have a lower tax burden than much of the rest of the EU.
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